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Once, it was enough to be first to market. Now, the innovation game is more complicated with multi-layered products and new go-to-market strategies that require a careful coordination of complex dependencies, compatibilities, and timing. The dynamic nature of these dependencies mean critical portfolio decisions need to be made on-the-fly, when data becomes available; and need to be revisited as conditions change.
In our opinion here at Accept, successful portfolios today require a broader approach that breaks out of the confinement of single departmental silos and instead integrates departmental, product, corporate, and IT portfolios into one unified enterprise portfolio. We believe the innovation portfolio game has changed.
Accept Corporation and AIPMM (Association of International Product Marketing and Management) are conducting a joint study to find out where companies are struggling the most today in their current portfolio planning practices and approaches. I am looking forward to the analysis as I am sure there will be some telling facts.
I had the opportunity to be the opening speaker last Thursday at the European Innovation Conference at Legoland in Billund, Denmark. What a great place to have a conference that was focused open innovation. Attended by over 300 of Europe’s largest companies, the attendee list read like a stock market trading board. Most of the attendees were responsible for open innovation, R&D, product development or lines of business. While the titles varied, what kept these people up at night was the same – how to get their companies to be innovative, how to capture and collaborate on ideas, and then what to do with those ideas once they got them. It didn’t matter if it was an airplane manufacturer or a coffee roasting company – their challenges were the same.
My presentation generated a lot of inquiry and conversation with the conference attendees, so I thought everyone might enjoy reading an excerpt of it.
The title of the presentation was "a tale of three innovators" – and I talked about three companies and how they approached innovation and the results they have realized.